Strategy (MSTR) steadies after Saylor vows more Bitcoin

Yes: Saylor signals more Bitcoin buys; recent purchases confirm

Michael Saylor has signaled additional Bitcoin  BTC +0.00% accumulation, maintaining Strategy (MSTR), formerly MicroStrategy, as a corporate vehicle for long-term BTC exposure. The message aligns with the company’s multi‑year policy of converting cash and capital markets proceeds into Bitcoin.

According to Strategy’s regulatory filing, the company acquired 13,627 BTC between January 5 and January 11. It also added 1,142 BTC for about $90 million at an average of $78,815 per coin, underscoring continued deployment even through volatility.

Why it matters: MSTR exposure, market reactions, and risks

MSTR functions as a leveraged, corporate wrapper around Bitcoin, introducing equity-market dynamics, debt, dilution, and governance, on top of BTC price moves. This structure can widen gaps between the stock’s value and the underlying Bitcoin per share, especially in stressed markets.

Crypto-linked equities have rallied alongside rebounds in Bitcoin. As reported by Bitcoin Magazine, Coinbase gained 18% and Strategy rose 10% in a recent session amid renewed risk appetite. The reaction has been uneven. Over the subsequent week, Strategy fell 11.15%, according to TipRanks, reflecting persistent volatility in crypto-sensitive names.

Short positioning adds another layer of risk. Barron’s reports short interest around 10% of Strategy’s public float, a setup that can amplify both downside and upside if Bitcoin moves sharply or liquidity thins.

Saylor has emphasized a long-horizon, buy-and-hold treasury stance to frame that volatility. “We are not going to be selling,” said Michael Saylor, executive chairman of Strategy, in a CNBC interview, as summarized by Investopedia, reiterating ongoing purchases despite drawdowns.

Financing choices also matter for equity holders. Based on data from Yahoo Finance, the company has issued preferred shares to deepen Bitcoin exposure in a challenging tape, while facing criticism as equity performance and unrealized losses draw scrutiny.

At the time of this writing, MSTR closed at $133.88, up 8.85% on February 13, with after-hours at $134.20, up 0.24%. Bitcoin was near $69,334, with very high recent volatility and neutral momentum readings, based on provided market metrics.

Implications for investors: MSTR versus holding Bitcoin directly

Holding MSTR differs from holding BTC directly because the stock embeds corporate leverage, potential share issuance, and tracking error versus net Bitcoin per share. In practice, premiums or discounts to the company’s BTC net asset value (NAV) can change quickly.

Recent buys, financing, and MSTR’s BTC NAV premium

Recent purchases highlight consistent deployment into BTC, while financing through preferred and other instruments can magnify outcomes. As reported by Fortune, critics argue MSTR’s valuation can detach from fundamentals, creating a premium to underlying BTC that may compress during risk-off episodes.

Expert views: adoption thesis vs valuation, debt, short interest

Some institutions see a broader corporate adoption trend that could support Bitcoin demand. Bitwise CIO Matt Hougan has framed treasury allocations as an underappreciated driver of the asset’s maturation, according to Coinglass.

Skeptics stress balance-sheet and equity risks. The Washington Post has noted short sellers such as Jim Chanos view the corporate wrapper as overvalued versus directly owning Bitcoin, with leverage and dilution intensifying drawdown risk.